PRINCE2 is a project management methodology, applicable to all types of projects. It provides you with the steps you need to take in your project, and normal responsibilities of the team members. It’s customizable, so you can tailor and use a simple version of it in small projects, and a complex version in large or sensitive projects.
History and Ownership
PRINCE2 stands for the following: Projects IN Controlled Environments, version 2 It belongs to AXELOS, a UK-based joint-venture, since 2013. Before that, PRINCE2 and other Best Practices belonged to OGC in the UK. Other organizations such as APMG, EXIN, and PeopleCert are responsible for taking the PRINCE2 exams in behalf of AXELOS. PRINCE2 is a new version of a standard called PROMPT, which goes back to mid-1970s.
There are two official manuals for PRINCE2: Managing Successful Projects with PRINCE2: from the managing point of view (e.g. project manager) Directing Successful Projects with PRINCE2: from the executive point of view (e.g. project board) There’s also a recently published manual on a tailored form of PRINCE2 that can be used in Agile environments called PRINCE2 Agile.
There are three main elements in PRINCE2: Core Principles: guiding obligations and good practices. Themes: aspects of project management that should be addressed continually. Processes: a step-wise progression through the project lifecycle. Tailoring: the way PRINCE2 should be customized for a project. Project documents, or better to say, management products are also part of the previously mentioned elements, as well as roles and responsibilities. Project management techniques are not part of PRINCE2; e.g. how to level resources.